According to Reuters, Abnormal Security, a component of the Prime Unicorn Index, appears to be preparing for an IPO.
Abnormal Security’s cloud email security platform protects enterprises from targeted email attacks. Powered by Abnormal Behavior Technology (ABX), the platform combines the Abnormal Identity Model, the Abnormal Relationship Graph, and Abnormal Content Analysis to stop attacks that lead to account takeover, financial damage, and organizational mistrust. Though one-click, API-based Office 365 and G Suite integration, Abnormal Security sets up in minutes, requires no configuration, and does not impact email flow.
According to Abnormal’s CEO Evan Reiser, the company has surpassed $100 million in recurring revenue and will continue to invest in its products to prepare for an eventual IPO as the markets improve. He added that, while not yet profitable, the company has no need to raise more capital.
Abnormal most recently raised $210 million in a Series C round in March 2022 with participation from Insight Venture Partners, Greylock Partners, and Menlo Ventures. This valued the company at approximately $3.8 billion at a preferred price per share of $19.62. Previously, Abnormal raised $50.5 million in a Series B round at $3.27 per share in October 2020 and March 2021 and $13 million in a Series A round at $0.82 a share in November 2019.
See how Abnormal has performed against the Prime Unicorn Index below.